It’s getting close to that time of the year when individuals and businesses both are thinking about giving back to their communities. Giving back to your community and to those less fortunate is a great thing and can be very rewarding. Below are some helpful charity tips/ideas if you’re looking to get that “extra bang” for your contribution buck. We saved the best tip for GA residents last.
Where’s Your Money Going?
What If You Are Giving Non-Cash Donations?
1) Salvation Army Guide – Here you will find a spreadsheet that gives you values of various household items and gives an IRS acceptable range of high to low costs per item. Many people short themselves when it comes to the values they can deduct of non-cash items. For some reason everyone is scared of that “all dreaded” $500 mark that is on Schedule A. The guide will help you max out your non-cash contributions deduction. (for items over $5,000 other steps are needed, please call us to go over)
Georgia Education Expense Credit